Assam: Chief Minister Announces Waiver of Microfinance Loans up to Rs 75,000

DIBRUGARH: On Monday, Chief Minister Himanta Biswa Sarma of Assam announced the waiver of microfinance loans of up to Rs 75,000, as he addressed a gathering in Dibrugarh during the ceremonial distribution of no dues certificates to beneficiaries.

In a symbolic gesture, CM Sarma presented a certificate declaring, "Here it is clearly stated that the principal amount of Rs 5,000 and the interest on it of Rs 4,000, that is a total of Rs 9,000 has been paid by the government and accordingly the credit history has been updated."

He further clarified, "Now the customer does not owe any further amount to us [bank]. This means that the bank has specified that the customer does not owe any amount to them. So, this is your complete NOC here."

Moreover, CM Sarma revealed that the government will scrutinize cases in which beneficiaries registered under the scheme owe larger sums to banks. He assured that the government will address such cases in the coming months, with loans of up to Rs 75,000 being waived by the government as swiftly as possible.

CM Sarma conveyed, "Today, I know you have also taken a lot of trouble, but there will be some here whose NOCs have not been handed to them. They will come to me and say that I had a loan of Rs 27,000, Rs 28,000, Rs 40,000, Rs 50,000… I want to tell these women that we will arrange for your financing within a few months."

He emphasized that the government needs to allocate funds for this purpose, after which it will be prepared to address cases involving larger loan amounts owed to banks.

"I have to clear some funds first, after that I will even call those with loans of up to Rs 75,000. So, in the meantime, even if any banks come and ask for their money back, tell them that no one has to pay even a penny. Now, what I have said will come out on televisions, so you can record and keep it as proof that the CM has promised to clear the loan amounts of up to Rs 75,000 because I will provide your NOCs as soon as possible," assured CM Sarma.

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